The Grand Manhattan speeds up construction, handing over houses in the fourth quarter of 2024

On April 19, 2023, Novaland , Tien Phong Commercial Joint Stock Bank (TPBank) and Ricons Construction Investment Joint Stock Company (Ricons) signed an agreement on cooperation to implement and complete the construction of The Grand Manhattan Apartment - Commercial Service Complex project (District 1, Ho Chi Minh City). According to the agreement, TPBank provides financial support to ensure that The Grand Manhattan project continues to be implemented after the suspension period as well as providing a credit package for home buyers; Ricons takes on the role of general contractor, committed to ensuring the quality and construction progress with the Investor. The project's legal issues have been resolved by the government, capital flows have been cleared, and the implementation of the completion of The Grand Manhattan is expected to be a bright spot contributing to promoting market liquidity in the coming time.

Novaland - TPBank - Ricons signed a cooperation agreement to implement and complete the construction of The Grand Manhattan project.

To remove difficulties for the real estate market, the Prime Minister has established a Prime Minister's Working Group and issued many Official Dispatches, Decrees, Resolutions, and Decisions to promptly direct ministries, branches, and localities to carry out many tasks and solutions in the short term as well as the long term to remove and promote the safe, healthy, and sustainable development of the real estate market. Up to now, The Grand Manhattan is one of the first 7 projects in Ho Chi Minh City that is focusing on removing legal obstacles. In the context of limited real estate supply in the center of Ho Chi Minh City, and difficulties in capital mobilization channels, the continued implementation of the project's completion is considered a bright spot to help investors have more confidence in the market's recovery, as well as supplement the supply of high-quality housing for Ho Chi Minh City. As a financial partner accompanying The Grand Manhattan project from the very beginning, and now continuing to provide capital for the project to be completed, a representative of TPBank said: "In addition to focusing capital on priority areas, encouraged by the Government's direction to promote economic development, TPBank still reserves a portion of credit for real estate projects that are effective and suitable for customer needs. The Grand Manhattan project, in District 1, Ho Chi Minh City, is also a project that TPBank continues to provide capital for after a period of suspension. After careful assessment, survey and work, continuing to provide capital for The Grand Manhattan to complete construction not only provides quality housing products, but TPBank is also in line with the Government's target direction in Resolution No. 33/NQCP in focusing on removing obstacles for ongoing projects, to complete them soon, creating supply for the market."

Investor representatives, partners TPBank and Ricons visited the project and actual model apartment after the signing ceremony.

It can be said that the funding for The Grand Manhattan project to be implemented goes beyond the meaning of restarting a real estate project. This is considered a positive signal from the efforts of the entire operating system - that is the drastic decisions of the Government ; the cooperation and companionship of local agencies, organizations, financial enterprises, construction and building materials enterprises as well as the efforts of real estate enterprises themselves for the goal of recovering and promoting the safe and sustainable development of the real estate market. For Novaland , the completion of The Grand Manhattan construction in the context of the market still having many difficulties and challenges once again affirms the value of the project as well as the tireless efforts of the group in the recent past. According to the comprehensive restructuring strategy, Novaland continues to focus resources on completing key projects, handing over houses in stages to customers, and flexibly adjusting the implementation plan for construction of project subdivisions to suit the current situation. The Group is also negotiating with credit institutions to arrange capital, while at the same time making efforts to coordinate with agencies, departments, branches, and local authorities to remove and complete legal procedures for projects as soon as possible; making efforts to ensure the harmony of interests of customers, investors, and related parties. “The Grand Manhattan is an apartment - commercial service complex that Novaland has devoted much effort to investing and developing, receiving the attention of many investors. The positive start of the project today is the result of the government's timely support policies to remove difficulties, the understanding and companionship of partners and customers. This has truly created a strong motivation and added confidence for investors and project developers to continue their efforts to bring other key projects into completion in the near future." , Mr. Ngo Hong Hai, General Director of Dat Viet Company - Project Investor shared.

Perspective of The Grand Manhattan Commercial Apartment Complex project.

The Grand Manhattan apartment - commercial service complex is built on an area of ​​14,000 m2 at a prime location with 2 facades of Co Giang - Co Bac right in the heart of District 1. When completed, the project will provide the market with more than 1,000 apartments with full luxury and modern amenities, contributing to relieving the "thirst" for housing supply and high-class serviced apartments in the leading economic center of the country. Up to now, the project has completed the basic infrastructure, foundation, basement, body up to the 28th floor and some utility items such as the actual model house at the project. Contractor Ricons will carry out the construction after the restart event, ensuring coordination between the Parties to ensure construction progress and construction quality according to the agreement, aiming to accompany the Investor to hand over houses to customers in the fourth quarter of 2024. In addition to The Grand Manhattan, a series of key projects invested and developed by Novaland such as NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City and projects in the center of Ho Chi Minh City are also being negotiated by the Group with financial partners and construction contractors to soon be put into implementation and completion in the near future. Source: https://baophapluat.vn/bds/the-grand-manhattan-tang-toc-thi-cong-ban-giao-nha-quy-iv2024-post473049.html